Made in China Inc.

China talks about the yuan again

2011-03-10T08:19:00.000-08:00

China Central-Bank Adviser Urges Yuan Reform

BEIJING—Xia Bin, a member of the Chinese central bank's monetary advisory committee, said China should aim for full yuan convertibility over the next 10 years.

WSJ article

China to World: We Want Your Imports

2011-03-07T08:24:00.001-08:00

BEIJING - China will send two large trade delegations to the United States and two to European Union nations this year to help stimulate its imports, said the head of China's trade promotion organization.

Delegations to US, EU will correct trade imbalance

Wan Jifei, chairman of the China Council for the Promotion of International Trade, told China Daily at the sidelines of the annual session of the Chinese People's Political Consultative Conference (CPPCC) National Committee, that China will send many more trade delegations to developed nations in 2011 than in previous years.

article: Delegations to US, EU will correct trade imbalance

Chinese Treasury Holdings Revised $268 Billion Higher To $1.12 Trillion

2011-03-01T09:06:00.000-08:00

source: Treasury International Capital website

Premier Wen Jiabao: Slower economic growth in China to reduce inflation risks

2011-02-28T08:30:00.000-08:00

Beijing to Slow Growth

BEIJING—China's premier said the government wants slower economic growth to avoid inflation and to restructure the economy, even as much of the developed world is struggling to accelerate expansion.

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Hot Money Hits China

2011-02-18T09:58:00.000-08:00

China says 2010 'hot money' flows hit $35.5 bn

BEIJING (AFP) – China said Thursday that net speculative capital inflows into the country last year equalled $35.5 billion, and vowed to maintain a crackdown on so-called "hot money".

China has sought to limit flows of volatile "hot money", which enter and exit nations in search of swift profits and are often blamed for destabilising markets as they tend to depart at the first sign of trouble.

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Gary Shilling on China's "Hard Landing"

2011-02-17T09:14:00.000-08:00

video interview

China is looking at the Yuan (again)

2011-02-17T07:09:00.000-08:00

China Opens More Options for Yuan

SHANGHAI—China said it will allow yuan foreign-exchange options to be traded domestically starting in April, a long-awaited move to give companies more hedging ability—part of Beijing's broader push to build a more sophisticated currency regime.

WSJ article

China food prices

2011-02-16T08:05:00.000-08:00

China's farm produce prices slightly down last week: MOC

BEIJING - In the week ending February 13, farm produce prices in China declined slightly for the first time this year, the Ministry of Commerce (MOC) said in a report released on Tuesday.

As the week-long Spring Festival holiday ended, abundant supply and weakening demand had brought down vegetable prices last week, said the ministry.

Compared to a week ago, the wholesale prices of 18 staple vegetables and 8 aquatic products went down 4.3 percent and 0.9 percent, respectively, it said.

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China Auto Sales Slow

2011-02-15T06:59:00.001-08:00

SHANGHAI (AP) -- China's passenger car sales slowed in January as tax breaks for energy-efficient cars lapsed and cities began tightening curbs on vehicle use to help combat traffic congestion and smog, according to a report Monday.

The Shanghai-based China Passenger Car Association reported that sales of passenger cars fell 10.3 percent in January from the month before to 965,238. On an annual basis, sales rose 12.6 percent.

Chinese bought 13.7 million passenger vehicles last year, up by a third from 2009. But that robust growth is forecast to cool this year due to the expiration of tax incentives for some vehicle purchases and a renewed effort by cities to bring traffic under control.

"Of course the withdrawal of financial incentives would impact any country's auto market, and sales did continue to grow in January, but toward the end of the month there was a sharp cooling in sales," the Passenger Car Association report said.

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China Up, Japan Lower

2011-02-14T07:21:00.000-08:00

Rising China Bests a Shrinking Japan

China passed Japan in 2010 to become the world's second-largest economy after the U.S., a historic shift that has drawn mixed emotions in the two Asian powers: resignation tinged with soul-searching in long-stagnant Japan, pride but also caution in an ascendant China wary of shouldering new global responsibilities.

WSJ Article

PBOC plans overhaul of money policy

2011-02-11T08:52:00.000-08:00

China's central bank is planning to use an indicator measuring total financing quantity and broader measures of money supply, such as M3 and M4, to better monitor liquidity conditions and curb inflation, local media reported on Thursday.

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Chinese Developers Move Inland

2011-02-10T09:04:00.000-08:00

Chinese developers are building more homes in cities across the nation away from the financial hub of Shanghai and the capital Beijing, which may be the hardest hit by government measures to curb property prices.

Bloomberg article

China: A 30% Crash In The Property Market

2011-02-09T08:58:00.000-08:00

From Shanghai Daily News (Google translation from simplified Han):

Regulation has been to attack the third round of first-tier cities real estate prices down 30%

Thunder attack the third round of real estate regulation, the rapid combination of boxing, so property prices forced counterattack, a few days could not proud of the real estate business and speculators by surprise. This time, a property "hot pot" of the "lid" was covered up.

Increase purchase cost, the purchase of, property tax, this three-pronged approach, if implemented in place, the actual interest rate has been through administrative restrictions and basically blocked the tax price of the property market investment (speculative) demand.

That property prices continue to rise, "lid" was tightly closed out. At the same time, "further implementation of local government" and "the construction of housing projects to increase security efforts", the attempt to increase the supply of low-rent housing on the market, "pot" to root of the problem.

After this shot of a combination of boxing, I believe that covers "lid" will directly effect. Property market turnover will be greatly reduced, as the CPI is likely to continue to promote further interest rate rise, real estate holding costs will continue to increase, investors who own multiple sets of housing will withstand the pressure to sell vacuum, once the panic selling a conservative estimate, prices have to appear about 30% pullback.

New "state of eight" and the property tax was intended to curb property speculation, if the effectiveness of control there, holding costs sharply, but more substantial price correction, then the past 10 years, the emergence of many hundreds of millions of Chinese cities, million "property rich" will be their colors.

It is true that the local government to increase efforts in building affordable housing projects, the author is not optimistic, because the event of a fall in property prices, local government finance will decrease the land, local government expenditure in the expanding case, expect them to spend more money for housing support, which is obviously unrealistic. Only a few strong ability to govern the city, it is anticipated to increase in 2011 the so-called efforts to protect the room is still on paper.

In the new "National Eight" and after the introduction of property taxes, house prices in 2011 is yes, then the next problem is that people are most concerned about - how much will fall?

Unfortunately, house prices will fall much, not primarily controlled by the Chinese, how much house prices will fall, the key to CPI (an important factor in the decision to raise interest rates); the CPI mainly agricultural products (16.70, -0.40, -2.34%), price determination; the prices of agricultural products mainly by the United States or U.S. agricultural futures markets and Wall Street's financial oligarchy decision. Despite the gains in agricultural products in 2011 has been crazy, but the international investment bank is still talking up the recent agricultural products, while vigorously pushing up oil prices - fertilizer and other major agricultural products are produced from petroleum.

That the future we may see the prices of agricultural products continued eruption scenario. The logic is this: abnormal weather and natural disasters (such as the present drought in north China) - International investment bank pushed up oil prices - prices of fertilizer and other agricultural materials - Chinese farm products are rigid gap - the international hot money frenzied speculation - agricultural prices continue to soar - the CPI rose to more than 10%, mortgage interest rates to 12% or more - more and more Chinese who can not afford the interest stuck with speculation - have to sell from the start of a small amount of falling house prices, but it is difficult sell - a lot of panic selling, housing prices fell.

Conclude that China's rate of falling house prices, the petroleum and agricultural price rises in the decision.

In addition, the decision to declines in property prices in China, there are two important factors:

First, China's monetary tightening efforts, a variety of information from the current point of view, not in the short term reversal of contraction. Recently, the central bank governor Zhou Xiaochuan also said that despite the deposit reserve rate has been high, but the future will still use the tools and the central voting issue to hedge liquidity. Second, the decision on whether a large-scale withdrawal of international hot money in China.

Overall, prices in China for the future, I am not optimistic. Those who still holds a lot of investment houses were in big trouble, the property market and, unlike stocks, transaction costs are very high, sell when up, or when the shot is very difficult to do. Of course, a few brave people can ton output capacity, but most will put the lid on, as has been in the "frog" in the continued heating, it had lost the strength to flee.

There are a lot of trouble holding the same land, but cash flow poor real estate agency in the next couple of years than they are likely to encounter more challenges in 2008. Dragged by the property market, the stock market is difficult to be optimistic.

The coming year, the Chinese economy and Chinese enterprises will face very serious challenges, the extent to less than 2008, the appreciation of the RMB, high resource prices, high agricultural prices, labor costs, etc., the cost of increasing rigidity in China; The high reserve ratio, high interest rates, falling house prices, stock prices fell, and so will become scarce liquidity. In this backdrop, Chinese companies are still profitable if it must have extraordinary ability.

Investor Alert: China Agritech

2011-02-03T10:02:00.000-08:00

China Agritech: Factory Visits Reveal a Scam

Based on our research, which includes factory visits and discussions with customers, competitors, and government officials, as well as examinations of Chinese financial filings, we think that China Agritech does not have a currently functioning business generating anything close to $100 million in revenue. We’re very confident that the company is a scam.

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IMF: China and India will lead economic recovery

2011-01-27T10:05:00.000-08:00

China buys gold and the world follows

2011-01-26T10:40:00.000-08:00

By Myra P. Saefong, MarketWatch

SAN FRANCISCO (MarketWatch) — Gold prices have lost around $75 an ounce this year but analysts are unfazed by the drop, with many betting the slump in prices will soon be cut short as the Chinese New Year feeds an increase in global demand that’s destined to last.

“We are entering a period of strong seasonal growth in gold demand and Chinese New Year is a big part of that,” said Brien Lundin, editor of Gold Newsletter. “Physical demand has been supporting the gold prices on the downside even during the typical slack periods, and I expect that upcoming increase in demand will also support the price, but at higher levels.”

MarketWatch Article

China's new stealth fighter may use US technology

2011-01-24T07:58:00.000-08:00

SLOBODAN LEKIC and DUSAN STOJANOVIC

(AP:BRUSSELS) Chinese officials recently unveiled a new, high-tech stealth fighter that could pose a significant threat to American air superiority _ and some of its technology, it turns out, may well have come from the U.S. itself.

Balkan military officials and other experts have told The Associated Press that in all probability the Chinese gleaned some of their technological know-how from an American F-117 Nighthawk that was shot down over Serbia in 1999.

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Thomas Friedman On China And America

2011-01-23T20:42:00.000-08:00

In a somewhat confusing and very rambling discussion, Friedman notes how he envies China's Reaganism, not Maoism.

Once again, there is no doubt that Friedman remains suspect and his geopolitical views are tainted.

70 billionaires in the Peoples Republic of China

2010-02-22T20:42:00.000-08:00

Rank Name Net Worth ($mil) Age Company
1 Wang Chuanfu 5,800 43 BYD
2 Liu Yongxing 5,500 61 East Hope Group
3 Zong Qinghou 4,800 64 Wahaha Group
4 Lu Xiangyang 4,100 47 Guangzhou Youngy Mgt & Investment Group
5 Yang Huiyan 3,900 28 Country Garden
6 Hui Wing Mau (Xu Rongmao) 3,850 59 Shimao Group
7 Ma Huateng 3,800 38 Tencent Holdings
8 Liu Zhongtian 3,790 45 China Zhongwang Holdings
9 Zhang Jindong 3,700 46 Suning Appliances
10 Wang Jianlin 3,500 55 Dalian Wanda Group
11 Chen Fashu 3,200 48 Newhuadu Industrial Group
12 Liang Wengen 3,100 52 Sany
13 Zhou Chengjian 3,000 44 Shanghai Metersbonwe Fashion & Accessories
14 Robin Li 2,900 41 Baidu Inc
15 He Xiangjian 2,800 67 Midea Group
16 Lu Zhiqiang 2,650 58 Oceanwide Group
17 Liu Yonghao 2,600 58 New Hope Group
18 Zhang Zhirong 2,500 40 Jiangsu Rongsheng Heavy Industries/Glorious Proper
19 Huang Wei 2,400 50 Xinhu Zhongbao
20 Guo Guangchang 2,350 42 Fosun International
21 Lu Guanqiu 2,320 64 Wanxiang Group
22 Zhang Xin 2,300 44 Soho China
23 William Ding Lei 2,250 38 NetEase.com
24 Zhang Guiping 2,200 58 Suning Universal
25 Chu Lam Yiu 2,150 40 Huabao International Holdings
26 Zhang Li 2,100 56 Guangzhou R & F Properties
27 Zhu Yicai 1,900 45 China Yurun Food Group
28 Chen Yihong 1,850 51 China Dongxiang Group
29 Wu Yajun 1,750 45 Longfor Group
30 Zhou Furen 1,730 58 Xiyang Group
31 Yan Cheung 1,720 52 Nine Dragons Paper
32 Zhang Zhixiang 1,700 42 Jianlong Steel
33 Chu Mang Yee (Zhu Mengyi) 1,670 50 Hopson Development
34 Cho Tak Wong 1,650 64 Fuyao Glass Industry Group
35 Shi Yuzhu 1,600 47 Giant Interactive Group, Shanghai Jiante
36 Shen Guojun 1,570 47 Yintai Investment
37 Zhu Gongshan 1,550 52 GCL Poly Energy Holdings Ltd
38 Tong Jinquan 1,520 54 Changfeng Group
39 Qi Jinxing 1,500 47 Hangzhou Binjiang Real Estate Group
40 Fang Wei 1,450 36 Fangda Carbon New Material/Fangda Group
41 Shen Wenrong 1,400 67 CITIC Pacific
41 Larry Yung 1,400 63 Jiangsu Shagang Group
41 Zhang Zhidong 1,400 37 Tencent Holdings
44 Chen Lihua 1,300 68 Fu Wah International
44 Chen Tianqiao 1,300 36 Shanda Interactive Entertainment
44 Li Shufu 1,300 46 Geely Automoe Holdings
44 Lin Li 1,300 46 Ping An Insurance Group Co of China Ltd
44 Jack Ma 1,300 45 Alibaba.com
44 Xia Zuoquan 1,300 47 BYD
44 Xian Yang 1,300 35 Hidili Industry International Development
51 Du Shuanghua 1,200 44 Rizhao Steel
51 Gao Dekang 1,200 57 Bosideng International Holdings
51 Geng Jianming 1,200 47 RiseSun Real Estate Development
51 Huang Maoru 1,200 44 Maoye International Holdings
51 Ke Xiping 1,200 50 Xiamen Hengxing Industrial Company
51 Wang Jiufang 1,200 46 Rongan Property
51 Zhang Keqiang 1,200 49 Huamei International Investment Group
58 Chen Jinshi 1,100 41 Yongjin Group
58 Chen Jinxia 1,100 47 Jiangsu Zhongnan Construction Group
58 Chen Zhuolin 1,100 47 Agile Property Holdings
58 He Jinming 1,100 57 Renrenle Commercial Group
58 He Zhusheng 1,100 62 Haicheng Houying Trading Group Co., Ltd
58 Huang Rulun 1,100 58 Century Golden Resources Group
58 Huang Wenzai 1,100 56 Star River Property Holding
58 Shi Zhengrong 1,100 46 Suntech Power Holdings
58 Wang Yusuo 1,100 45 Xinao Gas Holdings
58 Yao Juhuo 1,100 78 Meijin Group
58 Yuan Kaifei 1,100 57 New Century Shipbuilding Corporation
58 Zhang Cheng Fei 1,100 39 Nine Dragons Paper
70 Chen Ningning 1,000 56 Tibet Cheezheng Tibetan Medicine Co.,Ltd
70 Hoi Kin Hong 1,000 43 Excellence Group
70 Lei Jufang 1,000 28 Haixin Steel
70 Li Hua 1,000 54 Fujian Sanan Group/Sanan Optoelectronics
70 Li Zhaohui 1,000 60 Smart Triumph
70 Lin Xiucheng 1,000 51 Wuhan Fingu Electronic Technology
70 Meng Qingnan 1,000 47 Xinjiang Guanghui Industry
70 Sun Guangxin 1,000 57 Powerlong Real Estate Holdings
70 Ye Chenghai 1,000 66 Shenzhen Salubris Pharmaceuticals
70 Zhatng Xiangqing 1,000 40 Tianjin Rockcheck Steel Group

Warren Buffett loves Chinese Cars

2010-01-13T07:49:00.000-08:00

Warren Buffett's Chinese Cars Will Start Killing The US Auto Industry As Soon As This Year

Vincent Fernando
Jan. 13, 2010, 7:12 AM

BYD, the upstart Chinese electric car maker Warren Buffett famously has an investment in, is planning enter the U.S. market as soon as the second half of this year.

Considering the U.S. market entrance by multiple new auto players (from Chinese firms BYD and Geely, to India's Tata and even U.S. upstart Tesla Motors) expect auto industry competition to get far more intense than it already is.

article

Chinese gender imbalance will leave millions of men without wives

2010-01-11T21:22:00.000-08:00

More than 24 million Chinese men of marrying age could find themselves without spouses in 2020, with sex-specific abortions a major factor.

A study by the government-backed Chinese Academy of Social Sciences named the gender imbalance among newborns as the most serious demographic problem for the country's population of 1.3 billion.

"Sex-specific abortions remained extremely commonplace, especially in rural areas," where the cultural preference for boys over girls is strongest, the study said, noting the reasons for the gender imbalance were "complex".

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China and the global auto market

2010-01-11T09:28:00.000-08:00

There’s a picture of a soldier from the People’s Republic of China on this morning’s Drudge Report, depicting, Internet style, how China has finally ended the U.S.’s reign as the world’s largest auto market.

Had Drudge and Bloomberg.com, who broke the story been more journalistically correct, the lone soldier’s picture would have been flanked by those of Obama bagman George Soros and UN Poster Boy, Canadian-in-China Maurice Strong.

For it is a matter of fact that the People’s Republic of China did not naturally nor honestly win the race as world’s largest auto market, Soros and Strong made it happen.

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Train travel in China at 217 miles per hour

2009-12-26T12:49:00.000-08:00

China unveils 'world's fastest train link'

BEIJING (AFP) – China on Saturday unveiled what it billed as the fastest rail link in the world -- a train connecting the modern cities of Guangzhou and Wuhan at an average speed of 350 kilometres (217 miles) an hour.

The super-high-speed train reduces the 1,069 kilometre journey to a three hour ride and cuts the previous journey time by more than seven and a half hours, the official Xinhua news agency said.

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Pollution: A Chinese State Policy

2009-12-23T16:13:00.001-08:00

"How do I know China wrecked the Copenhagen deal? I was in the room"
guardian.co.uk

To those who would blame Obama and rich countries in general, know this: it was China's representative who insisted that industrialised country targets, previously agreed as an 80% cut by 2050, be taken out of the deal. "Why can't we even mention our own targets?" demanded a furious Angela Merkel.

2009-10-23T11:13:00.000-07:00

Art Cashin, of UBS, interview.

On Chinese growth and the massive fraud driving the economy:

China is very perplexing because it's not just your debate about what do we know about the Chinese banking numbers. What do we know about the Chinese numbers as a whole? There is a great deal of cynicism about how valid some of these numbers are. The feeling is in the regional districts, they don't want to look bad in front of the powers that be. So if they're supposed to come in with certain numbers, those numbers come in. This has the potential to be Enron-esque on a national level. Is it so? I hope not. But I will tell you there are enough people around looking and saying this number doesn't actually add up with that. I mean, Japan is no slouch. But they're not showing exporting at anywhere near the level that China's showing. So there's an inconsistency in the region as to what's going on.

ZeroHedge.com article

What was the Empire State Building thinking???

2009-10-01T11:02:00.000-07:00

Honor China, Not Its Communism

The Empire State Building this week will illuminate red and yellow, celebrating China's 60 years of communist rule. There are many things to appreciate about China, but communism isn't one of them.

What was the Empire State Building thinking in lighting up in celebration of China's long communist rule?

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China says US is dumping those chickens!

2009-09-28T21:59:00.000-07:00

China: complaints on US chicken dumping justified

BEIJING (AFP) – China said Sunday it had grounds to start a formal anti-dumping and anti-subsidy investigation into American chicken meat imports, as tensions persist following President Hu Jintao's visit to the US.

The Commerce Ministry announcement said an initial examination that began two weeks ago into domestic chicken producers' concerns had grounds and officials would now formally investigate the US imports.

"The ministry had carefully evaluated the applications... and decided to start an investigation into unfair trade practices such as dumping and subsidies of chicken products imported from the United States," it said.

Oaktree Capital Management to Receive $1 Billion from China Investment Corp.

2009-09-26T07:58:00.000-07:00

A Los Angeles investment firm has come out a big winner in the battle among some of world's best-known money managers vying for a slice of cash from China's sovereign-wealth fund.

China Investment Corp., which is doling out billions of dollars as it tries to profit from a global economic recovery, has committed to invest about $1 billion with Oaktree Capital Management LP, people familiar with the matter said. The big allocation comes as the Chinese fund stands poised to make a wave of investments directly into hedge funds around the world.

WSJ Article

Oaktree Capital

Obama slaps tariffs on Chinese tire imports for 3 years

2009-09-11T18:45:00.000-07:00

President Barack Obama has decided to slap punitive tariffs on all car and light truck tires entering the United States from China.

Accordingly, Obama sides with the United Steelworkers and against free trade interests within and outside the government.

This is a risky economic and foreign policy strategy. Increasing Chinese imports of American chicken meat already have been mentioned by Chinese state media as a possible retaliatory target. Also, Beijing could sell some of its extensive holdings of U.S. Treasury debt.

A recent Washington Post editorial opposed Chinese tire sanctions.

China no longer likes the risks associated with the derivatives markets

2009-09-07T22:17:00.000-07:00

China delivered a blow to some of the world’s biggest investment banks on Monday as it declared its support for legal efforts by some state-owned companies that want to break loss-making oil derivatives contracts with foreign institutions.

The state-owned Assets Supervision and Administration Commission of the State Council said it was investigating a number of derivatives deals and would help companies find ways to “minimise losses”.

The move is the latest by Beijing to clamp down on the over-the-counter derivatives market after a number of state companies made disastrous bets on commodity prices and foreign exchange movements, losing billions of dollars.

But it will be greeted with dismay by foreign financial institutions, already reeling from a July decision by China’s banking regulator that sought to prevent state-owned enterprises from accessing the overseas derivatives market through domestic intermediaries.

Financial Times article

Markets hit by China commodity default

2009-08-31T22:45:00.000-07:00

A report that Chinese state-owned companies will be allowed to walk away from loss-making commodity derivative trades provoked anger and dismay among investment bankers on Monday as they feared it may set a damaging precedent.

The State-owned Assets Supervision and Administration Commission, the regulator and nominal shareholder for state-owned enterprises (SOEs), told six foreign banks that SOEs reserved the right to default on contracts, Caijing magazine quoted an unnamed industry source as saying in an article published on Saturday.

While the details of the report could not be confirmed, it was Monday's hot topic in financial circles from Shanghai to Singapore as commodity marketers feared that companies holding underwater price hedges could simply renege on the deals, costing banks millions of dollars in profit.

read:::Business World

NYT: China: Shanghai Shares Tumble 6.75%

2009-08-31T09:48:00.000-07:00

Shanghai Shares Tumble 6.75%

By MARK McDONALD

HONG KONG — The Shanghai composite index plunged 6.75 percent on Monday to close out August with a drop of 21.8 percent, the worst performance for the month among the world’s major exchanges.

Monday’s fall, coupled with a drop of nearly 3 percent last Friday, has made for “a huge, huge decline,” said Dariusz Kowalczyk, chief investment strategist at SJS Markets in Hong Kong.

The overall index was down 192.94 points on Monday to finish at 2,667.75, the lowest closing figure in more than three months. Shares on the Shanghai exchange had rocketed more than 90 percent this year until they began to fall back about three weeks ago.

“It has brought the index into bear market territory,” Mr. Kowalczyk said. “There’s mounting concern over liquidity in the market. This is a big development.”

read article

Article: China Promises Not To Prick The Bubble

2009-08-10T10:45:00.000-07:00

No matter how softly the Chinese government may try to say that they won't prick the market bubble, their message is obvious.

This weekend both Premier Wen Jiabao and some senior policy makers came out and made it clear that they won't do anything that could slow down the roaring market.

Business Insider

NYTimes: Chinese Company Said to Be Buyer of Hummer

2009-06-02T09:46:00.000-07:00

GUANGZHOU, China — General Motors has reached a preliminary agreement for the sale of its Hummer brand of large sport utility vehicles and pickup trucks to a machinery company in western China with ambitions to become a carmaker, a person familiar with the Chinese government approval process said Tuesday.

read>>> NY Times article

Geithner's Obeisance to Chinese Officials Reveals U.S. Weakness

2009-06-01T09:16:00.000-07:00

By Simon Johnson

On his China visit, Secretary Geithner is immediately on the defensive. The language he is using on the Chinese policy of exchange rate undervaluation-through-intervention is the mildest available. And the commitment he is making, in terms of bringing down the US deficit – which we all favor – is an extraordinary thing to put numbers on in a foreign capital. Such commitments are of course unenforceable, but still the wording indicates – and is understood by China – great US weakness.

Not surprisingly, China seems likely to push for more. Their main idea is that some part of their US dollar holdings be transferred to a claim on the International Monetary Fund, which would shift it from being in dollars to being in Special Drawing Rights – and therefore a claim against (a) the IMF’s whole membership, and (b) presumably, the IMF’s gold reserves.

This is a bad idea.

read >>> full article

Farming billions in China

2009-01-02T12:47:00.000-08:00

Contradictions in China, and the Rise of a Billionaire Family

DAVID BARBOZA

GUJIA VILLAGE, China — In the 1950s, the Liu family of southwest China’s Sichuan Province was so short of food, they sent one of their youngest sons to be raised by another family.

Shawn Liu and his father, Liu Yongxing, whom Forbes has listed as China’s richest man.

Today, however, they are one of China’s richest families.

Rising from public scorn during the Cultural Revolution, the four Liu brothers managed to turn a small quail-breeding farm into China’s largest private company, later splitting it into four.

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Happy New Year 2009 from Hong Kong

2008-12-31T10:45:00.000-08:00

China now probes melamine tableware scare

2008-12-31T10:04:00.000-08:00

China now probes melamine tableware scare
Reuters

China, fighting a health scandal over melamine found in milk and other food products, now says it is investigating melamine tableware, following reports it might be harmful to health when hot.

Quality inspectors told Xinhua news agency they were organising tests of melamine tableware "following reports that some products contained poisonous ingredients."

Melamine is an industrial compound used in making plastic chairs, countertops, tableware, flame retardants and even concrete. It was added by unscrupulous manufacturers to food to cheat nutrition tests due to its high nitrogen content.

Output at China's Huge Daqing Oilfield Slows in '08

2008-12-31T08:47:00.000-08:00

Rigzone

Crude oil output in PetroChina's Daqing oilfield, China's largest, fell 3.6 percent from a year earlier to 40.2 million tonnes in 2008, or 804,000 barrels per day, Xinhua News Agency reported on Wednesday.

Natural gas output in the field, run by PetroChina , the listed arm of state oil giant CNPC, reached 2.76 billion cubic meters, according to the report on www.xinhuanet.com.cn.

Daqing accounts for more than a third of PetroChina's domestic oil production, which was 107.64 million tonnes in 2007. Its importance in the firm's gas output is much less, making up 5 percent of last year's 54.2 billion cubic meters.

The field alone is responsible for more than one fifth of China's total oil production, which CNPC expects to reach 189 million tonnes in 2008.

Huge dinosaur discovery in China

2008-12-30T11:01:00.001-08:00

Huge dinosaur discovery in China: state media
AFP on Yahoo

BEIJING (AFP) – Paleontologists in east China have dug up what they believe is one of the world's largest group of dinosaur fossils including the remains of an enormous "platypus", state press said Tuesday.

Paleontologists have discovered 15 areas near Zhucheng city in Shandong province that contain thousands of dinosaur bones, the Beijing News reported.

"This group of fossilised dinosaurs is currently the largest ever discovered in the world... in terms of area," the paper cited paleontologist Zhao Xijin of the China Academy of Sciences as saying.

Chinese retail sales increase by 20.8 percent in November

2008-12-28T19:23:00.000-08:00

China Nov. retail sales up 20.8 percent
International Business Times

By Deyu Zeng 11 December 2008 @ 11:13 pm EST Beijing - China's retail sales in November grew 20.8 percent from a year earlier, but eased from a 22 percent rise in October, according to data released by the National Bureau of Statistics on Friday.

The November growth rate is the lowest since March this year, the data revealed.

According to the data, throughout the first 11 months of the year, China's retail sales have increased 21.9 percent from a year earlier.

FT: Shanghai to Beijing by train in a day

2008-12-27T13:05:00.000-08:00

Shanghai to Beijing by train in a day

By Rahul Jacob

Published: December 27 2008 01:11

The English poet Philip Larkin once said that he would visit China – if he could return in a day. I recently took a 10-hour train journey from Shanghai to Beijing on one of the country’s fast trains intending a variation on that absurd idea.

It was a chance to see, albeit only from a train window, more than just the epic skyscrapers of those two metropolises. Both cities have played the role of giant portals that have turned the heads of the world’s chief executives and led to the greatest emerging market gold rush ever. Coincidentally, the book I was reading on my journey, Yasheng Huang’s Capitalism with Chinese Characteristics, argued that the government’s huge investments in all those skyscrapers and show-off airports had come at the cost of China’s rural areas.

FT article

FT: China’s state sector urged to boost economy

2008-12-27T12:35:00.000-08:00

China’s state sector urged to boost economy

By Jamil Anderlini in Beijing

Senior government officials have publicly called on China’s state-owned sector to increase its dominance in the economy in response to rapidly cooling growth and plummeting profits.

Analysts say while no one in the Communist-controlled government favours a return to traditional central planning, advocates of continued state dominance of the economy are clearly ascendant in Beijing.

FT article

FDA Warns Pet Owners To Avoid Chinese-Made Chicken Treats

2008-12-26T21:29:00.000-08:00

FDA Warns Pet Owners To Avoid Chinese-Made Chicken Treats
Sun-Sentinel | By Diane C. Lade

The U.S. Food and Drug Administration again is cautioning pet owners about feeding their dogs chicken jerky treats manufactured in China, as the agency continues to receive reports of kidney-related disorders in animals that ate these products.

The FDA has received 151 complaints about dogs falling sick after eating chicken jerky products since September 2007, when the agency issued its warning. Twenty-six of those pets died

Toxic melamine is suspected in seafood from China

2008-12-26T09:26:00.000-08:00

Toxic melamine is suspected in seafood from China
LA Times

Industry experts and businesspeople in China say that the industrial chemical has been routinely added to fish and animal feed to artificially boost protein readings.

Reporting from Los Angeles and Shanghai--Melamine in Chinese-produced milk powder has sickened hundreds of thousands of children and added to a growing list of made-in-China foods banned across the globe.Now, some scientists and consumer advocates are raising concerns that fish from China may also be contaminated with the industrial chemical.

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FYI... people have noticed boxes of frozen talapia bearing “Produce of China” being unloaded into Walmart seafood display cases.

China says NO to The New York Times

2008-12-20T09:28:00.000-08:00

China blocks Internet access to New York Times

BEIJING (Reuters) – China, widely criticized for its censorship of the media, this week blocked access to The New York Times, the newspaper said on Saturday.

When computer users in cities like Beijing, Shanghai and Guangzhou tried to connect on Friday to nytimes.com, they received a message that the site was not available, the newspaper said.

There was no access to the site from Beijing late on Saturday without the protection of a virtual private network (VPN).

The State Information Office said it had no information on the case.

"I was physically disgusted when I saw it on the TV"

2008-12-08T20:44:00.000-08:00

"Made in China" label battered by product scandals
Reuters | Ben Blanchard

By Ben Blanchard Mon Dec 8, 8:18 am ET

BEIJING (Reuters) – Milk, toothpaste, cough syrup, pet food, eels, blood thinner, car parts, pork, eggs, honey, chicken, dumplings, cooking oil and rice -- if you can fake it or taint it, you can almost guarantee it's happened in China.

A string of product safety scandals, including contaminated infant formula that is believed to have killed six babies and sickened thousands of others, have rocked the faith of shoppers, making them wary of buying products made in China despite the often cheaper price tag.

"I was physically disgusted when I saw it on the TV," said Sally Villegas, a mother of two in Australia, referring to the melamine-tainted infant formula scandal that came to light in September.

What should have stayed in Vegas didn't for Chinese officials

2008-12-07T22:15:00.000-08:00

Chinese officials punished for lavish US tour
AP

The Chinese bureaucrats who spent taxpayers' money on a $700-a-night Las Vegas hotel and visits to Hawaiian beaches and a San Francisco sex show might have gotten away with it if someone hadn't lost a bag on the Shanghai subway.

The dozens of documents and receipts in the bag, with officials' names and enthusiastic comments attached, were swiftly posted on the Internet, spreading like wildfire across Chinese cyberspace over the past week. That brought swift punishment for some officials involved — and another disgusted shrug from Chinese citizens all-too-familiar with corruption.

China to US: make sure Beijing's investments are safe

2008-12-03T19:12:00.000-08:00

China tells US to make sure Beijing's investments are safe
AFP on Yahoo

BEIJING (AFP) – China's top envoy to high-level economic talks with the United States urged Washington Thursday to make sure Chinese investments in the US economy were safe.

"We hope the US side will adopt every necessary measure to stabilise its economy and financial markets and ensure the safety of China's assets and investment in the United States," Vice Premier Wang Qishan said.

He made the remark in prepared comments at the start of two days of Sino-US economy talks in Beijing that he is co-chairing with US Treasury chief Henry Paulson.

Authorities discovered the soy meal contained an astonishing 50 times the maximum limit of Melamine

2008-12-02T14:57:00.000-08:00

Want to know what organic chickens are fed? If it's soy meal from China -- a cheap source of protein -- it may also contain melamine.

That's what happened with 300 tons of soy meal being fed to organic chicken in western France. Authorities discovered the soy meal contained an astonishing 50 times the maximum limit of melamine: 116mg per kg of soy meal.

This cheap Chinese soy meal was delivered to 127 "organic" chicken farms in France. Nobody yet knows how many organic chicken farms in the U.S., Canada, U.K. or Australia might also be feeding their chickens toxic levels of melamine.

article: NaturalNews.com

China reports huge increase in children sickened by tainted milk

2008-12-02T14:55:00.000-08:00

by Karl Malakunas

Mon Dec 1, 10:40 pm ET

BEIJING (AFP) – China has dramatically raised the tally of children sickened by dairy products laced with the industrial chemical melamine to 294,000, more than five times the original figure.

In a late-night statement on Monday, the health ministry also said six babies may have died from consuming poisoned milk, up from a previous confirmed death toll of three.

WSJ: China Freezes Lending to Curb Investing Frenzy

2007-11-19T21:42:00.000-08:00

China Freezes Lending to Curb Investing Frenzy
WSJ | JAMES T. AREDDY

Chinese authorities are slamming the brakes on bank lending, in their latest attempt to curb the runaway investment threatening to overheat what is soon to be the world's third-largest economy.

In recent weeks, regulators have quietly ordered China's commercial banks to freeze lending through the end of the year, according to bankers in several cities. The bankers say that to comply, they are canceling loans and credit lines with businesses and individuals.

A China Banking Regulatory Commission official here confirmed that local and Chinese subsidiaries of foreign banks have been asked to ensure that loans at the end of the year don't exceed the total outstanding on Oct. 31. The official described the request as "guidance aimed at supporting the macro-control measures being implemented."

Congress to Yahoo: Boo! to You!

2007-11-06T14:54:00.001-08:00

Yahoo execs defend role in arrest/jailing of Chinese journalist

Associated Press Erica Werner

WASHINGTON - Two top Yahoo Inc. officials on Tuesday defended their company's role in the jailing of a Chinese journalist but ran into withering criticism from lawmakers who accused them of complicity with an oppressive communist regime.

"While technologically and financially you are giants, morally you are pygmies," House Foreign Affairs Committee Chairman Tom Lantos, D-Calif., said angrily after hearing from the two Yahoo executives.

He angrily urged Yahoo Chief Executive Jerry Yang and General Counsel Michael Callahan to apologize to journalist Shi Tao's mother, who was sitting directly behind them.

Shi Tao was sent to jail for 10 years for engaging in pro-democracy efforts deemed subversive after Yahoo turned over information about his online activities requested by Chinese authorities.

1 million Chinese-made cribs recalled

2007-09-21T14:14:00.000-07:00

1 million Chinese-made cribs recalled
Money | CNN

NEW YORK (CNNMoney.com) -- About one million Chinese-made, Simplicity brand cribs are being recalled after three infants died and seven were trapped when the drop side of cribs detached causing a dangerous gap, according to the Consumer Product Safety Commission.

Failures in the crib's drop side are due to a combination of hardware and design flaws that allow consumers to unintentionally install the drop side upside down. This installation could weaken the hardware and cause the drop side to detach from the crib, creating a gap that could lead to the entrapment and suffocation of infants.

The cribs, which were made in China, were sold in department stores, children’s stores and mass merchandisers nationwide from January 1998 through May 2007 for between $100 and $300.

The affected cribs include the following models: Aspen 3 in 1, Aspen 4 in 1, Nursery-in-a-Box, Crib N Changer Combo, Chelsea and Pooh 4 in 1. The recall also involves Simplicity cribs Aspen 3 in 1, Ultra 3 in 1, Ultra 4 in 1, Ultra 5 in 1, Whitney and the Trio using the Graco logo.

The recalled cribs have the model numbers 4600, 4605, 4705, 5000, 8000, 8324, 8800, 8740, 8910, 8994, 8050, 8750, 8760, and 8996, which can be found on the envelope attached to the mattress support and on the label attached to the headboard.

China gets a consumer safety tsar

2007-08-17T10:40:00.000-07:00

Jonathan Watts in Beijing
Guardian Unlimited

China's most respected troubleshooter, vice-premier Wu Yi, was appointed head of a new consumer safety panel today as Beijing attempted to reverse a growing trust deficit with overseas trade partners and domestic shoppers.

Johnson & Johnson tracks down maker of phony diabetes test

2007-08-17T10:38:00.000-07:00

NEW YORK: A global manhunt begun by Johnson & Johnson has traced to China counterfeit versions of an at-home diabetes test used by 10 million Americans to take sensitive measurements of blood sugar levels.

Potentially dangerous copies of the OneTouch Test Strip sold by Johnson & Johnson's LifeScan unit surfaced in U.S. and Canadian pharmacies last year, according to federal court documents unsealed in June.

Court filings disclose, for the first time, that China is the source of about one million phony test strips, which have turned up in at least 35 states and in Canada, Greece, India, Pakistan, the Philippines, Saudi Arabia and Turkey.

International Herald Tribune

Cartoon

2007-08-17T10:34:00.001-07:00

Mattel recalls more Chinese-made toys

2007-08-15T12:45:00.000-07:00

China River Pollution Kills 88,000 Pounds of Fish

2007-08-14T22:41:00.000-07:00

The Washington Post | Reuters

(BEIJING) - Waste water dumped by factories into a river in southwest China has poisoned and killed about 40,000 kg (88,180 lb) of fish, media said on Tuesday.

Eighty government officials went door to door in Chongan town, Guizhou province, to warn villagers not to eat, sell or transport the fish, state radio and news portal www.sina.com.cn reported.

Dead fish were found floating on a 5-km (3-mile) stretch of the murky and foul-smelling river on August 10, the media said, adding it would take another four to five days to clear them away.

Officials blamed the deaths on upstream factories dumping excessive levels of fluorine, phosphate and arsenium into the river, the media reports said

China and Potato Farming

2007-08-14T19:14:00.000-07:00

China Studies Humble Potato As Way To Beat Drought

Reuters

(BEIJING) - Chinese farming experts are considering planting potatoes instead of rice and wheat as a way to beat crippling drought each year, state media said on Tuesday.

But the government would have to provide subsidies to persuade farmers to make the switch, they said.

"The potato is more drought-resistant than rice and wheat, which suits China better as 60 percent of the country's arable land is dry," Qu Dongyu, a potato farming specialist with the Chinese Academy of Agricultural Sciences, was quoted by Xinhua news agency as saying.

China, widely hit by summer floods, also suffers from a shortage of 30 billion cubic meters of water for irrigation every year.

College Football: Oregon vs Boise St. in 2009?

2007-08-14T13:29:00.000-07:00

Long-distance invite

BOISE, Idaho (AP) -- The University of Oregon is scheduled to travel to Boise State at the start of the 2009 season to play the Broncos on their blue turf, but the Ducks have suggested playing the game elsewhere -- in China.

Jeff Hawkins, Oregon's director of football operations, said that Oregon athletic director Pat Kilkenny made the invitation to Boise State athletic director Gene Bleymaier last spring.

Boise State is considering the invitation.

Read more::: sportsillustrated.cnn.com

Recall: Raleigh bikes made in China

2007-08-10T11:09:00.000-07:00

1,200 Raleigh bicycles recalled
komotv.com | AP

By Associated Press About 1,200 Raleigh Cadent bicycles with Carbonage carbon forks, manufactured by Carbonage Technology in China have been recalled.

Manufacturers say the forks on the bike can break during use, causing the rider to lose control, fall and suffer injuries. Raleigh America has received three reports of forks breaking, resulting in injuries, including a dislocated shoulder, a concussion and a broken jaw.

The recall includes the 2007 Raleigh Cadent 1.0, Cadent 2.0 and Cadent Carbon bicycle models with carbon forks.

China threatens 'nuclear option' of dollar sales

2007-08-08T11:42:00.000-07:00

UK Telegraph | Ambrose Evans-Pritchard

The Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions to force a yuan revaluation.

Blog - Dollar to collapse? Fistful of dollars - China's trade surplus reached $26.9bn in June

Two officials at leading Communist Party bodies have given interviews in recent days warning - for the first time - that Beijing may use its $1.33 trillion (£658bn) of foreign reserves as a political weapon to counter pressure from the US Congress.

Poll: Americans extremely wary of China goods

2007-08-08T11:39:00.000-07:00

Zogby: 2/3 for boycotting Chinese goods

U.S. consumers are extremely wary of products made in China in the wake of a series of safety scandals, with nearly two-thirds saying they would support a boycott of Chinese goods, a poll showed on Tuesday.

Asked by pollster Zogby International whether they were concerned about buying Chinese products, 82 percent of respondents said yes and only 30 percent said they believed food imports from China were safe.

China says no translating Harry Potter

2007-08-02T16:27:00.001-07:00

Children in China have been banned from translating the latest Potter book.

read::: Telegraph

Quality fade in China

2007-08-02T09:04:00.001-07:00

read::: Forbes article

Chinese Commerce Minister: over 99 per cent of China’s exports are safe

2007-08-02T08:55:00.000-07:00

In the face of a growing crisis of confidence in Chinese goods, Bo Xilai, Commerce Minister, said that “over 99 per cent of China’s export products are good and safe”. In comments published on Thursday on the ministry’s website, “We hope that all parties can treat Chinese products objectively, fairly and rationally. Don’t let this damage the normal development of trade.”

Financial Times

Recall: Fisher-Price toys

2007-08-02T00:07:00.000-07:00

Toymaker Fisher Price is to recall almost one million Chinese-made toys over fears that their paint contains too much lead.

read::: Washington Post

Chinese authorities clamp down on media reports about food safety

2007-07-31T22:52:00.000-07:00

Japan Today | staff

HONG KONG — China is tightening its grip on media reporting food safety problems in Beijing following a recent rebuff by the government of a pork-bun report, the South China Morning Post said Tuesday.

The Hong Kong daily said several media in China's capital city have been warned or ordered to cut down on political news coverage, especially regarding unsafe food. The report said the hardest hit was the tabloid Beijing Daily Messenger, which was told by the Publicity Department of the Beijing Municipal Party Committee to "scrap its political and social pages and cover only entertainment and lifestyle stories."

US Administration Officials Condemn Senate China Currency Bills

2007-07-31T14:40:00.001-07:00

WASHINGTON -(Dow Jones)- A trio of Bush administration officials Tuesday condemned Senate legislation aimed at pressuring China to change its currency regime, saying the bills amounted to the "wrong approach."

In a letter signed by U.S. Treasury Secretary Henry Paulson, Commerce Secretary Carlos Gutierrez and U.S. Trade Representative Susan Schwab, the officials said two Senate measures "would substantially weaken the position of the United States in our ongoing efforts to achieve essential economic reforms in China and around the world, while jeopardizing our rapidly growing exports that have benefited American workers and farmers."

Last week, the U.S. Senate Finance Committee approved a bill that would open the way for punishing China over monetary policy.

article::: FXStreet

http://www.djnewswires.com/eu

On sale sale in Beijing

2007-07-31T14:33:00.001-07:00

Beijing street scene. The guy seated on the top of the ladder shows a sign that means "Forced to move by the city council, sale with weeping tears."

creative commons flickr photo via dave_italy

about Mia, Steven, the Olympics and the Sudan

2007-07-31T14:20:00.000-07:00

This is one of the odder stories involving the Chinese Olympics, but it’s an archetype we will probably be seeing more of as the ‘08 Olympics approach. Sometimes, with all the charm of Chinglish, Yao Ming and Pandas, we forget that sometimes China isn’t exactly the best behaved nation. And sometimes we forget that Steven Spielberg is Jewish.

read::: dejuiced

the Yahoo!-China censorship case

2007-07-31T14:06:00.000-07:00

Journalist Rebecca MacKinnon reports, with new findings, on the Yahoo!-China censorship case at the RConversation blog. MacKinnon reports on who knew what when.

California Department of Public Health Warns Consumers Not to Eat Fresh Ginger From China

2007-07-30T22:10:00.000-07:00

FOR IMMEDIATE RELEASE -- Sacramento, CA -- July 29, 2007 -- Dr. Mark Horton, director of the California Department of Public Health (CDPH), today warned consumers not to eat fresh ginger imported from China after the California Department of Pesticide Regulation’s residue monitoring program detected the presence of aldicarb sulfoxide in some batches of imported ginger. Aldicarb sulfoxide is a pesticide that is not approved for use on ginger.

The product is known to have been distributed to Albertson's stores and Save Mart stores in northern California by Christopher Ranch of Gilroy, California.

CDPH and the U.S. Food and Drug Administration are tracing the imported ginger from the importer (Modern Trading Inc. in Alhambra, California) to determine the full distribution of the product and to identify other retail stores that may have received the product.

Currently, there are no reports of illness associated with the contaminated ginger.

Consumers who may have purchased this product from Albertson's stores and Save Mart stores in northern California should discard it.

Symptoms of aldicarb poisoning in humans are likely to occur within the first hour following exposure. Ingestion of foods contaminated with aldicarb at low levels can cause flu-like symptoms (nausea, headache, blurred vision) which disappear quickly, usually within 5 or 6 hours. However, at higher levels, ingestion of aldicarb contaminated food can also cause dizziness, salivation, excessive sweating, vomiting, diarrhea, muscle stiffness and twitching, and difficulty in breathing.

Individuals who may have consumed this product and have any of the above symptoms should contact their health care provider immediately.

####

FDA's Recalls, Market Withdrawals and Safety Alerts Page: http://www.fda.gov/opacom/7alerts.html

Pollution story of the day from China

2007-07-30T08:51:00.000-07:00

Thousands clash with police over polluting Chinese brewery
Channel News Asia

BEIJING: Thousands of protesters accusing a brewery in southwest China of polluting water supplies clashed with armed police, a human rights group said on Sunday, the latest violence sparked by environmental worries.

US Treasury Secretary Henry Paulson in China for trade talks

2007-07-29T23:46:00.000-07:00

US Treasury Secretary Henry Paulson heads to Beijing on Monday to discuss the US-China Strategic Economic Dialogue (SED) launched in 2006.

articles -

Boston Globe

Bloomberg

Reuters

China's economy

2007-07-27T13:52:00.001-07:00

Jul 26th 2007 | HONG KONG
From The Economist print edition

Fears that China's economy is overheating are exaggerated

CHINESE students may come top of the world league in mathematics, yet the country's economic numbers are notoriously dodgy. New figures showing that China's GDP growth quickened to 11.9% in the year to the second quarter, its fastest since the mid-1990s, while inflation jumped to 4.4% in June from 3.4% in May, have fuelled concerns that its economy is now seriously overheating. However, a closer inspection of the numbers suggests there is no need to panic—yet.

China: No More Mister Nice Guy

2007-07-27T10:34:00.000-07:00

By John E. Carey
Peace and Freedom
July 26, 2007

On July 25, 2007, the International Monetary Fund released its 2007 projections. Those numbers indicate that China, this year for the first time, has dislodged the United States from its long reign as the main engine of global economic growth, with its more than 11 percent growth eclipsing sputtering U.S. growth of about 2 percent.

full article

Twitching Fish 'Is Popular Dish In China

2007-07-20T19:27:00.001-07:00

Sky News

A chef in Taiwan has been criticised for reportedly serving a deep fried fish with its head still twitching.

The chef presents the carp with its body cooked and covered with sweet and sour sauce, the newspaper United Daily News said.

"When eaters pick the fresh meat with their chopsticks, they can watch the fish's stirring mouth," the paper continued.

Animal lovers have criticised the practice, saying deep frying the fish while alive puts it through extreme pain.

New Chinese Missiles

2007-07-20T19:25:00.000-07:00

The Washington Times | Bill Gertz

China's military this week quietly showed a new medium-range missile ... Chinese Internet sites posted a photograph of what specialists say is the new Dong Feng-25 missile that could be used by China in a conflict with Taiwan, or to target U.S. forces in Japan and the region ...

"The apparent new medium- to intermediate-range missile constitutes another surprise" from China's military.

China: Organic, With Pesticides

2007-07-20T19:14:00.000-07:00

Business Week | By Chi-Chu Tschang

Some farmers in China are taking advantage of confusing rules to falsely label food.

The word "wholesome" doesn't exactly spring to mind when describing Chinese exports these days. But for years now, Chinese farmers have fed soaring global demand for organic foods. China's organic exports totaled $350 million in 2005 (the most recent data available)—up from $150 million the previous year—according to China's largest organic food certification agency. The country now represents 5% of global trade in such products, up to this level today from 1.2% in 2004. And that share is bound to grow as more land is converted to chemical-free farming. China now ranks third worldwide in organic farmland, after Australia and Argentina, up from 45th in 2000.

China, U.S. plan 5-day meeting on food safety

2007-07-20T19:07:00.000-07:00

msnbc.com | DancesWithCats

Embalming agent formaldehyde found in Chinese cookies in Philippines

BEIJING - China and the U.S. will meet at the end of July to discuss the safety of China's seafood exports, an official said Wednesday, while news reports said tires that were the subject of a huge U.S. recall were found to meet American safety standards.

Meanwhile, Philippine authorities said they were testing more Chinese products after ordering several candy and cookie brands withdrawn from store shelves because they tested positive for a harmful embalming chemical.

Made (badly) in China

2007-07-20T19:05:00.000-07:00

The Los Angeles Times | By Oliver August

One Chinese-made product after another has been taken off U.S. shelves in the last four months. Lethal pet food. Toxic toothpaste. Contaminated seafood. The list is likely to grow longer still. But forcing Beijing to adopt stringent safety regulations, as Washington is trying to do, will make little difference.

The reason so many Chinese products sold in American malls are faulty is not a lack of regulation (who would accuse a communist regime of not being bureaucratic enough?) but corruption. I learned as much on a trip to southern China last year when I was detained by who I initially thought were the local police.

Bay Area May See Shrinking Seafood Supply

2007-07-20T09:47:00.000-07:00

(CBS 5) SAN FRANCISCO | By Sue Kwon

Bay Area retailers and restaurants that rely on large quantities of frozen seafood from China could see a dwindling supply as large importers report that seafood container ships are not leaving Chinese docks.

Seattle-based Tai Foong USA has products in Bay Area stores and said the supply of shrimp is already disrupted. That's because Chinese suppliers are choosing not to export while they test the catch.

The Chinese government, fighting a tsunami of bad publicity is now conducting lab tests on seafood exports for banned antibiotics and chemicals suspected of causing cancer.

Another Hasbro Easy-Bake Oven Recall

2007-07-19T10:53:00.000-07:00

Hasbro recalls more "Easy-Bake Ovens."

Articles -

CBS11tv

CNN

China reporter held for fake cardboard-in-buns story

2007-07-19T10:41:00.000-07:00

Alertnet

BEIJING, July 19 (Reuters) - Beijing police have detained a television reporter for fabricating an investigative story about steamed buns stuffed with cardboard at a time when China's food safety is under intense international scrutiny.

A report directed by Beijing TV and played on state-run national broadcaster China Central Television last Thursday said an unlicensed snack vendor in eastern Beijing was selling steamed dumplings stuffed with cardboard soaked in caustic soda and seasoned with pork flavouring.

China Quietly Muscles In on the Organic Food Market

2007-07-19T10:35:00.000-07:00

The New York Sun | By Josh Gerstein

Consumers turning to organic food in the wake of warnings about antifreeze-laden toothpaste, poisoned pet food, and antibiotic-laced fish may be in for a surprise. The same country blamed for those scares, China, is quietly muscling in on the organic market.

Upscale grocery chains like Trader Joe's and Whole Foods now import popular organic snacks such as edamame and canned staples such as kidney beans from China. That has made some buyers looking for pristine, all-natural food a bit skittish.

Food Scare Puts Chinese Media On The Defensive

2007-07-12T20:23:00.000-07:00

Taipei Times | By Howard French

A majority of the Chinese media still view foreign coverage of the tainted food scandal as Western efforts to put down their country.

For weeks, as questions have multiplied over the safety of China's exports of food and other consumer goods, the Chinese media have had a consistent refrain.

US complaints about China's products are part of a mounting trade war. They are the expression of efforts by Westerners to keep China down, to invent what the Chinese media have called a "China threat" to manipulate public opinion.

China Says It’s Food Not Safe To Eat

2007-07-12T20:21:00.000-07:00

The West Australian

An alarming admission by Beijing’s food safety boss that the country’s food industry is so unhygienic that consumers risked disease has sparked calls for tougher testing of the $400 million worth of Chinese produce eaten each year by Australians.

China’s food safety department head Sun Xiande issued the unprecedented warning to Chinese media that hidden threats would “gradually emerge and disease will likely gradually occur due to the harmful ingredients in food” in light of a series of food safety scares in the US.

“Food safety accidents or events will not only affect the healthy development of the entire (food) industry, but also possibly affect the local economy and social stability,” he was reported as saying.

China assures food safety for athletes at 2008 Beijing Olympics

2007-07-10T14:32:00.000-07:00

BEIJING (AP) -- Despite food safety problems, China says athletes, coaches and officials at the 2008 Beijing Olympics can be assured of healthy meals.

"All the procedures involving Olympic food, including production, processing, packaging, storing and transporting will be closely monitored," Sun Wenxu, an official with the State Administration for Industry and Commerce, said Tuesday.

China has come under international pressure to boost food safety and monitoring mechanisms following repeated scandals over contaminated Chinese food exports.

That has underscored chronic problems with adulterated ingredients and fake products in the domestic food supply, raising questions of how well China can guarantee the purity of food for the games.

China Planning a Surreal Facade for Summer Olympic Games: Beijing 2008

2007-07-10T14:28:00.000-07:00

Peace and Freedom - Policy and World Ideas | John E. Carey

Few could have anticipated the run of bad publicity, crises and scandals that China has weathered since about last winter or spring. First, pets in America became sick and many died. The illness was traced to Chinese-made pet food laced with a fertilizer component named melamine. Companies in China had illegally added melamine to wheat gluten and rice protein in a bid to meet the contractual demand for the amount of protein in the pet food products.

After that, the Food and Drug Administration in the United States began to take a harder look at a host of Chinese products imported into the U.S.

The FDA ended up barring most seafood from China (where we in the U.S. get about 1/3 of our shrimp, much of our catfish and other “farm raised” seafood products) because much of it contained drugs, bacteria or other suspicious or obviously harmful products.

China Executes Ex-Food and Drug Chief

2007-07-10T14:24:00.000-07:00

AP via MyWay.com | ALEXA OLESEN

BEIJING (AP) - China executed the former head of its food and drug watchdog on Tuesday for approving untested medicine in exchange for cash, the strongest signal yet from Beijing that it is serious about tackling its product safety crisis.

The execution of former State Food and Drug Administration director Zheng Xiaoyu was confirmed by state television and the official Xinhua News Agency.

During Zheng's tenure from 1998 to 2005, his agency approved six medicines that turned out to be fake, and the drug-makers used falsified documents to apply for approvals, according to previous state media reports. One antibiotic caused the deaths of at least 10 people.

Spain withdraws contaminated toothpaste of Chinese origin

2007-07-10T14:22:00.000-07:00

europa.eu

The European Commission today confirmed reception of a formal notification from the Spanish Authorities relating to a decision to withdraw from the Spanish market two brands of toothpaste of Chinese origin because of a risk to public health. The formal notification is part of the EU wide Rapid Alert System for non-food dangerous products (RAPEX), that alerts and co-ordinates an EU wide response to dangerous consumer goods found in the Single Market. The notification relates to two brands of toothpaste: Spearmint and Trileaf Spearmint. Spanish laboratory tests have detected the presence of DEG (diethylene glycol) a substance used in antifreeze and as a solvent. The measures adopted are compulsory – a withdrawal from the Spanish Market.

China may hold key to payday for millions of graying Americans

2007-07-10T11:16:00.000-07:00

Centre Daily | KEVIN G. HALL

SHANGHAI, China --It may come as a surprise to many Americans, but their retirement security may depend in large measure on China's development of capital markets and the willingness of Chinese savers to buy the stocks and bonds that baby boomers will unload in coming years.

Bribery helps China buy new friends overseas

2007-07-08T12:40:00.000-07:00

NOT long ago China had almost no investments abroad. Today Chinese companies are big foreign investors, particularly in developing countries in Africa, South America and Asia. How do they do it?

One factor is that China now has a lot of cash and is happy to pay top dollar, particularly for resource investments. Another is that Chinese officials and business people do business in the way that they do it at home: they pay bribes. In fact, evidence suggests they behave even more corruptly abroad.

read::: The Age

Made in China, recalled in U.S.

2007-07-06T11:44:00.000-07:00

WASHINGTON – Despite promises by China to clean up its act with regard to unsafe exports, every product recalled by the federal government so far this month is a Chinese import.

Last month, 17 of 28 products recalled by the Consumer Product Safety Commission were Chinese imports.

read::: Jack's Newswatch

Online gamers in China making $50 per hour

2007-07-06T11:35:00.000-07:00

"With an estimated online gaming population of more than 30 million last year and growing, there is no shortage of Chinese who are willing to play for profit," says a new report.

read::: PCWorld

Secretary of State Rice: "China doesn't play fair"

2007-07-06T11:27:00.001-07:00

WASHINGTON: Secretary of State Condoleezza Rice said Friday that China "doesn't play fair" on trade and currency issues.

Rice called for China to allow better market access, currency reform and stronger protection of copyrighted materials.

"On balance, a growing, strong Chinese economy is going to be a good thing for the international system. But it has to be a growing, strong Chinese economy that plays within the rules," Rice said in an interview with CNBC television to be aired Friday, according to a transcript provided by the network.

"China doesn't play fair," she said.

read::: International Herald Tribune

Brilliance China Automotive To Delist From NYSE

2007-07-06T11:24:00.000-07:00

Brilliance China Automotive Holdings, the first Chinese auto company to list its shares on the New York Stock Exchange, said it plans to withdraw that listing from the NYSE because of a decline in trading volume and a concurrent rise in administrative costs.

Taking Marxism to China

2007-07-05T16:41:00.000-07:00

Marxism is a bore in China, but tie-dyed American socialists are trying to revive it. Apparently it's easier to believe in socialism if you haven't actually tried to live under it.

The Los Angeles Times reports:

It isn't easy teaching Marxism in China these days.
"It's a big challenge," acknowledged Tao, a likable man who demonstrates remarkable patience in the face of students more interested in capitalism than "Das Kapital." The students say he isn't the problem.

read::: The Guardian